Ashish Kacholia offloads stake in midcap IT stock, picks new smallcap

NEW DELHI: Ace investor Ashish Kacholia, known for his picks in the midcap and smallcap space, today sold entire stake in midcap IT stock Mastek and bought a stake in smallcap petrochemical company Agarwal Industrial.

NSE bulk deal data showed that Kacholia sold 5.5 lakh shares of Mastek at Rs 2,110 apiece. Smallcap World Fund picked up 5,54,883 shares in a block deal on the stock exchange.

Mastek's shareholding pattern at the end of June 2022 shows that he held 1.83 per cent or 5.5 lakh shares of the company. Besides him, other star investors in Mastek include Mukul Mahavir Agrawal and Sunil Singhania's Abakkus PMS.

Kacholia first entered the stock in September 2020 by picking up a 2.9 per cent stake, Trendlyne data shows. In the June quarter, he had sold 0.2 per cent stake.

Mastek shares ended 4 per cent higher today at Rs 2,185.65 on BSE. Having rallied nearly 700 per cent in the last five years, the stock has lost over 28 per cent of its value year-to-date.

In the meantime, Kacholia bought 3.72 lakh shares of Agarwal Industrial Corp Ltd at Rs 505 per share. The stock, with a market capitalization of Rs 805 crore, ended 13.5 per cent higher today at Rs 556.90 on BSE.